Danish FSA says stricter home loan rules will avert next crisis

Denmark, where a burst housing bubble threatens to drag the economy into its second recession in less than a year, may require home buyers to pay more up front as part of a palette of anti-crisis measures under review.
Denmark needs to reconsider the lending standards that contributed to its 2008 housing crisis, according to Ulrik Noedgaard, the director general of the Financial Supervisory Authority. While the bond-backed portion of Denmark’s residential property market complies with an 80 percent loan-to- value rule, access to bank loans to help home buyers finance the rest may have been too lax, the FSA said………………………………………..Full Article: Source